Tag: silver

Silver Price Analysis: Bulls look to take on bearish commitments at weekly resistance
Commodities

Silver Price Analysis: Bulls look to take on bearish commitments at weekly resistance

Silver is in the hands of the bulls on a long-term time frame but lacks conviction on lower time frames.  If daily support holds, then the bulls have a shot at a continuation to pressure bearish commitments at weekly resistance.The price of silver has been testing critical support on Thursday, trading lower on the day so far, rejected by the daily resistance of a 38.2% Fibonacci retracement of the latest bearish daily impulse.However, so long as support holds, then there is the prospect of a higher high from a longer-term perspective.The following is a top-down analysis that illustrates where the next opportunity on the long side could come from a solid support structure.Monthly chart, silverThe monthly W-formation's neckline has been tested within last week's price a...
Bitcoin Trading Tepidly at $33.7K While SushiSwap Eats Raw Market Share
Commodities, Crypto News

Bitcoin Trading Tepidly at $33.7K While SushiSwap Eats Raw Market Share

Bitcoin is taking a break, staying in a tight trading range with lower than average volume compared to the past month. Meanwhile, alternative cryptocurrencies and decentralized finance are stealing the spotlight.Bitcoin (BTC) trading around $33,782 as of 21:00 UTC (4 p.m. ET). Gaining 2.5% over the previous 24 hours. Bitcoin’s 24-hour range: $32,341-$34,715 (CoinDesk 20) BTC above the 10-hour and the 50-hour moving average just slightly on the hourly chart, a sideways-to-bullish signal for market technicians.Bitcoin trading on Bitstamp since Jan. 29.Source: TradingViewThe price of bitcoin is extending its weekend respite Monday, trading in a fairly tight $32,500-$34,500 range, although its 24-hour performance is up 2.5% as of press time.“XRP – and DOGE ...
Silver prices surge as markets bet on inflation-inducing stimulus
Commodities

Silver prices surge as markets bet on inflation-inducing stimulus

Spot silver prices have seen significant upside on Wednesday, rallying north of 2%. Further reflation hopes as Biden takes office have boosted precious metals and other risk-sensitive assets.Spot silver (XAG/USD) prices have seen significant upside on Wednesday, rallying north of 2% or more than 50 cents to come within striking distance of last week’s $25.895 highs as markets bet on inflation-inducing stimulus. That marks a sharp turnaround from a pre-US open sell-off that saw prices drop almost all the way back to the $25.00 level.US President Joe Biden was sworn in without too much by way of surprises, but markets have maintained a strongly risk on bias throughout and is a continuation of the move that began before former Fed Chair and US Treasury Secretary nominee Janet ...